Siyaram Q4 net profit jumps 59.18 percent

Siyaram Silk Mills has reported 59.18 percent rise in net profit at Rs 32.14 crores for the fourth quarter ended March 31, 2015. The company had reported a net profit of Rs 20.19 crores in the corresponding period a year ago. During the period under review, the company's net sales stood at Rs 479.45 crores, up 18.32 percent from Rs 405.21 crores in the same quarter a year ago.

For the year ended March 31, 2015, the company reported 23.9 percent increase in net profit at Rs 78.79 crores as against a net profit of Rs 63.57 crores in the previous year. The company’s net sales stood at Rs 1,507.96 crores, up 15.86 percent from Rs 1,301.43 crores in the previous fiscal. Meanwhile, in a separate filing, the company recommended a dividend of Rs 10 per equity share for the financial year ended March 31, 2015.

The company recently ventures into women’s ethnic wear segment with the launch of its label Siya, endorsed by Bollywood actress Parineeti Chopra. The company would first promote it through its franchise stores and then expand its pan-India presence. The range of ready to stitch products under Siya consist of salwar-kameez , anarkalis in cotton, cotton blends and georgettes in a variety of patterns.